About White Sugar Futures
White sugar is an indispensable commodity in the global sugar trade. Its multifaceted importance extends beyond satisfying our sweet cravings, finding its place in a diverse range of industries, from food production to biofuel.
The widespread use of white sugar makes it one of the most actively traded futures contracts globally. It is not only traded on ICE Futures Europe (IPE) but also on the Zhengzhou Commodity Exchange (ZCE).
This article delves into the updates regarding ICE White sugar futures in the month of October.
Trading Sugar Futures on ICE
The Intercontinental Exchange (ICE) provides a range of sugar futures contracts across its different exchanges. Traders can trade ICE White Sugar Futures on ICE Futures Europe (IPE) through Orient Futures Singapore.
Click here to find out more on ICE White Sugar Futures Contract Specifications, ICE Exchange trading hours and ICE White Sugar Futures Symbol.
In addition to IPE, ICE Futures US (NYBOT) also offers a futures contract for raw sugar, known as the Sugar No.11 Futures.
Beyond sugar futures contracts, ICE extends its offerings to various other commodities futures contracts. These include ICE Futures Singapore (ICE Singapore) Mini Brent Crude Futures, Mini US Dollar Index Futures, Cotton Futures, and more. This presents traders with a diverse range of investment options.
Orient Futures Singapore is futures trading Singapore regulated broker that offers contracts from different futures exchanges and trading platforms.
White Sugar Futures News
This White Sugar Futures news is based on Orient Research Agricultural Products Data Weekly Report dated 20230924 and other sited sources.
Sugar Supply and Demand
Concerns about uncertain production and export prospects in Asia, India, and Thailand have raised worries about future shortages in the international sugar market.
Currently, the outlook for sugar production in Brazil's central-southern region for the 23/24 season remains optimistic, with some agencies predicting record sugarcane crushing and sugar production. Datagro recently raised its estimate for sugar production in Brazil's central-southern region to 40.3 million tons, marking a historic high and a 19.5% year-on-year increase from the previous estimate.
Brazil faces challenges with domestic storage capacity, and uncertainty surrounds the capacity of ports to transport sugar quickly. However, Brazil's substantial supply is likely to exert downward pressure on international sugar prices.
Furthermore, the current high price levels have left several importing countries in a deficit situation. China's release of its sugar stocks and incoming sugar shipments have temporarily reduced the need for external purchases. High sugar prices have contributed to demand delays, and this situation is expected to persist.
ICE Sugar Futures Price
According to ICE Futures Europe, White Sugar futures is trading at 687.300 per ton, as of 4th October 2023. ICE raw sugar remained at elevated levels last week, with the primary March contract price showing stability above 27 cents.
The expiration of the October contract for ICE raw sugar will potentially exert pressure on the futures market and posing a risk of decline in price. However, it is worth noting that as the peak sugarcane crushing season in Brazil concludes, its influence is waning.
Consequently, the market's attention is shifting more towards production and export prospects in Asia, India, and Thailand. The downside potential in the futures market is expected to be limited, with support anticipated around 25-26 cents per pound. The long-term outlook for the international sugar market remains somewhat optimistic.
Start Trading With Orient Futures Singapore
Being an Overseas Intermediary of Shanghai International Energy Exchange (INE), Dalian Commodity Exchange (DCE), and Zhengzhou Commodity Exchange (ZCE), when foreign clients participate in internationalised futures contracts in these Chinese markets with us, they have direct access to trading, clearing, and settlement. Our parent company, Shanghai Orient Futures, is the largest broker in terms of aggregated volume across the five regulated exchanges in China.
Orient Futures Singapore also currently holds memberships at the Singapore Exchange (SGX), Asia Pacific Exchange (APEX), and ICE Futures Singapore (ICE SG). Starting August 2023, corporate clients can also gain access to the B3 Exchange through us.
We provide bespoke services to our professional clients, tailored to their corporate and individual needs. Our team will be there for you 24 hours on trading days to provide a one-stop portal for all your trades, with simple processes and an intuitive user interface that has low or near-to-zero latency.
